Today with enthusiasm we can say that the crisis in the real estate sector has been left behind. After an atypical year 2020 and a very promising year 2021 for the sector. In this first quarter of the year, the real estate market is heading towards a full recovery. Home values have risen, and distressed sales (foreclosures and short sales) have fallen to their lowest point in years. The market will continue to strengthen during the second quarter of 2021.
The coronavirus crisis was very different from the 2008 housing crisis, and its lasting effects and recovery time will also be different. The housing crisis at the time was in part the result of a dysfunctional financial system and unchecked lending. The coronavirus was an unexpected and global event that hit the economy. However, there is one factor that could slow the industry slightly: a lack of housing inventory! The demand from buyers increases day by day, especially during the summer, but the supply has not been maintained as required by the market. We must reinvent the way to attract real estate, seeking the help of new technologies to achieve it.
Looking for a home is exciting, but the process of buying a new home can also be stressful. In a sellers market, many buyers will find a home that they really like, but then they will get anxious because they are not sure whether the seller will accept their offer. This is where all the advice and accompaniment of a specialized broker with high knowledge of the sector is required, who generates options and successfully guides the buying and selling process.
For the past 10 months, property inspections and other legal processes were limited by social distancing protocols. So a large part of the sellers refrained from presenting their properties in the real estate market in order not to further complicate the processes. But little by little everything is returning to normal, and it is expected that the way to stabilize prices is by increasing the real estate supply, either by building more homes or increasing the real estate listings. This guarantees that those who are in the process of buying their first home in Florida can access better opportunities according to their income and profiles. Therefore, the increase in investment opportunities will help the reactivation of Real Estate in Florida.
Real Estate Agents must be constantly trained, their knowledge of the technical and legal aspects of the real estate market is essential to lead their clients and investors to make quality decisions when buying or investing. The most important thing a real estate agent or broker can offer is: TRUST
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